Social Media Traders Continue To Grow

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Social Media Traders Continue To Grow

Social Media Traders Increasing

Individual investors are gradually turning towards their peers who are professional in Forex trading and simultaneously popular over social networks to gain from their expertise and strategies as well.

Forex trading has gained immense popularity in the recent decade. Trading platforms have emerged with innovations to attract more individuals and institutional traders. More brokerage platforms are implementing technology to facilitate easy and fruitful trading.

In the trading world, a lot of signals are made available to provide market sentiment over social networks and it is ideal to exchange trade ideas with each other and learn strategies that perform better in trading.

Several social trading platforms are available to help solo investors to copy the trades of high-performing traders on the network against a subscription to avail the service. The top investors making their trades visible gain followers and are ranked at higher positions on the leaderboard.

A couple of platforms to name here include eToro, IronFX and FxPro. These are highly popular among traders from across the world. Retail Forex has witnessed growth on these platforms in the period of the past 10 years or so as traders are offered high leveraged positions which were only made available to institutional traders earlier.

Twitter is playing an important role in making Forex more popular. News headlines on the platform are used to predict the market. Derwent Capital hedge fund firm has announced the launching of a new spread betting app that would use the daily tweets in creating a sentiment indicator of the currency market.

Forex is the acronym for foreign exchange and it is the largest financial market in the world with a daily turnover of more than $6 trillion. It is a 24-hour marketplace from Monday to Friday, based on the time zones of a market. The currencies are traded in pairs such as USD-GBP and JPY-euro.

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